A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Secured loan:

A loan which is secured on a property or other asset. Failure to keep up with repayments on this loan could result in the asset being cashed in.

Self-Assessment:

The annual tax return filled in by self-employed workers and higher-rate taxpayers who receive untaxed income from more than one source.

Self Invested Personal Pension (SIPP):

A pension which allows savers to invest in a wide range of assets including shares and commercial property. The charges on SIPPS are usually higher than on standard pensions.

Scrip issue:

Sometimes called bonus issue or capitalisation issue, these are shares distributed by a company which wants to shift some profits from its balance sheet. Current share holders will receive 'free' extra shares, but the value of the shares will fall to reflect the increased number of shares in circulation. The dividend payable on the shares is also likely to fall.

Shared Appreciation Mortgage (SAM):

A type of home loan deal which allowed borrowers to pay a lower rate of interest in return for giving the lender a significant share of any increase in the value of the property. Thousands of homeowners were stung by these loans after property prices soared, leaving them owing the bank tens, if not hundreds of thousands of pounds.

Stock Exchange:

An organisation that provides facilities for companies and governments to issue securities to raise money and for those securities to be traded among investors.